Financials

Trend Micro: FYE Dec 2025 and ten years of results (45 metrics)

FYE Dec 2025 · Revenue¥276bnYoY +1.2%
FYE Dec 2025 · Operating profit¥58bnYoY +20.1%
FYE Dec 2025 · Net profit¥35bnYoY +0.5%
FYE Dec 2025 · Equity ratio30.2%YoY +1.0pp
FYE Dec 2025 · Group employees6,717YoY −152
Fiscal yearRevenueYoYOperating profitYoYMarginNet profitChief executiveThat year
FYE Dec 2016Consolidated¥132bnn/a¥34bnn/a26.0%¥25bnEva ChenTippingPoint IPS business acquired from HP
FYE Dec 2017Consolidated¥149bn+12.8%¥36bn+6.1%24.5%¥26bnEva Chen
FYE Dec 2018Consolidated¥160bn+7.8%¥36bn−1.7%22.3%¥28bnEva ChenRevenue reaches <span class="en-history_money" data-yen="160400000000" data-year="2018">$1.5B (¥160bn)</span>, back to double-digit growth
FYE Dec 2019Consolidated¥165bn+3.0%¥38bn+5.2%22.8%¥28bnEva ChenCloud Conformity of Australia acquired; cloud configuration auditing added
FYE Dec 2020Consolidated¥174bn+5.4%¥39bn+4.7%22.7%¥27bnEva Chen
FYE Dec 2021Consolidated¥190bn+9.4%¥44bn+10.6%22.9%¥38bnEva Chen
FYE Dec 2022Consolidated¥224bn+17.6%¥31bn−28.2%14.0%¥30bnEva ChenVicOne Inc. established in Taiwan for automotive cyber security
FYE Dec 2023Consolidated¥249bn+11.1%¥33bn+4.0%13.1%¥11bnEva ChenAnlyz Inc. of India acquired, reinforcing SOC automation (SOAR)
FYE Dec 2024Consolidated¥273bn+9.6%¥48bn+47.6%17.6%¥34bnEva Chen
FYE Dec 2025Consolidated¥276bn+1.2%¥58bn+20.1%20.9%¥35bnEva Chen

How it compares

Oracle Japan¥285bnFY2026Operating margin 31.5%
Trend Micro¥276bnFY2025Operating margin 20.9%
Rakus¥60bnFY2025Operating margin 28.8%Sansan, Inc.¥54bnFY2026Operating margin 15.2%JustSystems¥52bnFY2025Operating margin 43.7%
OBIC BUSINESS CONSULTANTS CO.,LTD.¥51bnFY2025Operating margin 45.9%
Money Forward¥50bnFY2025Operating margin −5.3%
Mirokujouhousabisu¥46bnFY2024Operating margin 13.6%
Appier Group¥44bnFY2025Operating margin 6.8%
Sofutoweasabisu¥42bnFY2025Operating margin 19.8%

Income statement Revenue, costs, each level of profit and the margins they leave

Where the revenue goes

¥ bn
Cost of sales SG&A Operating profit

Margins

%
Gross margin Operating margin Ordinary margin Net margin

Revenue net sales, operating revenue

FYE Dec 2025 ¥276bn
CAGR · 10 yrs +8.5%
Fiscal year Revenue ¥ bn YoY Basis
FYE Dec 2016 132 n/a Cons. · Japanese GAAP
FYE Dec 2017 149 +12.8% Cons. · Japanese GAAP
FYE Dec 2018 160 +7.8% Cons. · Japanese GAAP
FYE Dec 2019 165 +3.0% Cons. · Japanese GAAP
FYE Dec 2020 174 +5.4% Cons. · Japanese GAAP
FYE Dec 2021 190 +9.4% Cons. · Japanese GAAP
FYE Dec 2022 224 +17.6% Cons. · Japanese GAAP
FYE Dec 2023 249 +11.1% Cons. · Japanese GAAP
FYE Dec 2024 273 +9.6% Cons. · Japanese GAAP
FYE Dec 2025 276 +1.2% Cons. · Japanese GAAP
Definition
Everything the company took in from its own business
Formula
Revenue line of the income statement
Source
Securities report (XBRL)

Cost of sales

FYE Dec 2025 ¥64bn
CAGR · 10 yrs +12.0%
Fiscal year Cost of sales ¥ bn YoY Basis
FYE Dec 2016 23.0 n/a Cons. · Japanese GAAP
FYE Dec 2017 28.1 +22.1% Cons. · Japanese GAAP
FYE Dec 2018 32.7 +16.3% Cons. · Japanese GAAP
FYE Dec 2019 32.3 −1.3% Cons. · Japanese GAAP
FYE Dec 2020 38.2 +18.2% Cons. · Japanese GAAP
FYE Dec 2021 42.0 +10.1% Cons. · Japanese GAAP
FYE Dec 2022 54.3 +29.2% Cons. · Japanese GAAP
FYE Dec 2023 63.7 +17.2% Cons. · Japanese GAAP
FYE Dec 2024 65.0 +2.1% Cons. · Japanese GAAP
FYE Dec 2025 63.7 −1.9% Cons. · Japanese GAAP
Definition
The cost of what was sold
Formula
Cost of sales line of the income statement
Source
Securities report (XBRL)

Gross profit

FYE Dec 2025 ¥212bn
CAGR · 10 yrs +7.7%
Fiscal year Gross profit ¥ bn YoY Basis
FYE Dec 2016 109 n/a Cons. · Japanese GAAP
FYE Dec 2017 121 +10.8% Cons. · Japanese GAAP
FYE Dec 2018 128 +5.8% Cons. · Japanese GAAP
FYE Dec 2019 133 +4.1% Cons. · Japanese GAAP
FYE Dec 2020 136 +2.3% Cons. · Japanese GAAP
FYE Dec 2021 148 +9.2% Cons. · Japanese GAAP
FYE Dec 2022 169 +14.3% Cons. · Japanese GAAP
FYE Dec 2023 185 +9.2% Cons. · Japanese GAAP
FYE Dec 2024 208 +12.2% Cons. · Japanese GAAP
FYE Dec 2025 212 +2.2% Cons. · Japanese GAAP
Definition
What the product or service itself earns
Formula
Revenue − cost of sales
Source
Securities report (XBRL)

SG&A selling, general and administrative expenses

FYE Dec 2025 ¥154bn
CAGR · 10 yrs +8.4%
Fiscal year SG&A ¥ bn YoY Basis
FYE Dec 2016 74.5 n/a Cons. · Japanese GAAP
FYE Dec 2017 84.2 +13.0% Cons. · Japanese GAAP
FYE Dec 2018 91.8 +9.0% Cons. · Japanese GAAP
FYE Dec 2019 95.2 +3.7% Cons. · Japanese GAAP
FYE Dec 2020 96.4 +1.3% Cons. · Japanese GAAP
FYE Dec 2021 105 +8.6% Cons. · Japanese GAAP
FYE Dec 2022 138 +32.0% Cons. · Japanese GAAP
FYE Dec 2023 152 +10.3% Cons. · Japanese GAAP
FYE Dec 2024 160 +4.7% Cons. · Japanese GAAP
FYE Dec 2025 154 −3.2% Cons. · Japanese GAAP
Definition
The cost of selling and of running the company
Formula
SG&A line of the income statement
Source
Securities report (XBRL)

Operating profit

FYE Dec 2025 ¥58bn
CAGR · 10 yrs +5.9%
Fiscal year Operating profit ¥ bn YoY Basis
FYE Dec 2016 34.4 n/a Cons. · Japanese GAAP
FYE Dec 2017 36.4 +6.1% Cons. · Japanese GAAP
FYE Dec 2018 35.8 −1.7% Cons. · Japanese GAAP
FYE Dec 2019 37.7 +5.2% Cons. · Japanese GAAP
FYE Dec 2020 39.5 +4.7% Cons. · Japanese GAAP
FYE Dec 2021 43.6 +10.6% Cons. · Japanese GAAP
FYE Dec 2022 31.3 −28.2% Cons. · Japanese GAAP
FYE Dec 2023 32.6 +4.0% Cons. · Japanese GAAP
FYE Dec 2024 48.1 +47.6% Cons. · Japanese GAAP
FYE Dec 2025 57.8 +20.1% Cons. · Japanese GAAP
Definition
What the core business earns
Formula
Gross profit − SG&A
Source
Securities report (XBRL)

Non-operating income

FYE Dec 2025 ¥3.6bn
CAGR · 10 yrs +6.9%
Fiscal year Non-operating income ¥ bn YoY Basis
FYE Dec 2016 2.0 n/a Cons. · Japanese GAAP
FYE Dec 2017 2.2 +11.7% Cons. · Japanese GAAP
FYE Dec 2018 2.0 −10.2% Cons. · Japanese GAAP
FYE Dec 2019 2.2 +11.9% Cons. · Japanese GAAP
FYE Dec 2020 2.6 +17.7% Cons. · Japanese GAAP
FYE Dec 2021 2.0 −22.9% Cons. · Japanese GAAP
FYE Dec 2022 3.5 +71.1% Cons. · Japanese GAAP
FYE Dec 2023 9.7 +178.2% Cons. · Japanese GAAP
FYE Dec 2024 7.6 −21.5% Cons. · Japanese GAAP
FYE Dec 2025 3.6 −52.2% Cons. · Japanese GAAP
Definition
Income from outside the core business
Formula
Non-operating income line of the income statement
Source
Securities report (XBRL)

Non-operating expenses

FYE Dec 2025 ¥7.4bn
CAGR · 10 yrs +22.2%
Fiscal year Non-operating expenses ¥ bn YoY Basis
FYE Dec 2016 1.2 n/a Cons. · Japanese GAAP
FYE Dec 2017 1.6 +34.2% Cons. · Japanese GAAP
FYE Dec 2018 0.6 −60.3% Cons. · Japanese GAAP
FYE Dec 2019 0.8 +21.4% Cons. · Japanese GAAP
FYE Dec 2020 2.2 +185.3% Cons. · Japanese GAAP
FYE Dec 2021 1.2 −47.9% Cons. · Japanese GAAP
FYE Dec 2022 0.7 −44.0% Cons. · Japanese GAAP
FYE Dec 2023 6.1 +829.3% Cons. · Japanese GAAP
FYE Dec 2024 2.9 −53.1% Cons. · Japanese GAAP
FYE Dec 2025 7.4 +159.6% Cons. · Japanese GAAP
Definition
Costs arising outside the core business
Formula
Non-operating expenses line of the income statement
Source
Securities report (XBRL)

Ordinary profit keijo rieki

FYE Dec 2025 ¥54bn
CAGR · 10 yrs +4.9%
Fiscal year Ordinary profit ¥ bn YoY Basis
FYE Dec 2016 35.1 n/a Cons. · Japanese GAAP
FYE Dec 2017 37.0 +5.4% Cons. · Japanese GAAP
FYE Dec 2018 37.2 +0.4% Cons. · Japanese GAAP
FYE Dec 2019 39.1 +5.2% Cons. · Japanese GAAP
FYE Dec 2020 39.9 +1.8% Cons. · Japanese GAAP
FYE Dec 2021 44.5 +11.7% Cons. · Japanese GAAP
FYE Dec 2022 34.2 −23.2% Cons. · Japanese GAAP
FYE Dec 2023 36.2 +5.9% Cons. · Japanese GAAP
FYE Dec 2024 52.8 +46.0% Cons. · Japanese GAAP
FYE Dec 2025 54.0 +2.2% Cons. · Japanese GAAP
Definition
A level of profit that exists only under Japanese GAAP
Formula
Operating profit + non-operating income − non-operating expenses
Source
Securities report (XBRL)

Extraordinary income

FYE Dec 2025 n/a
CAGR · 5 yrs +47.4%
Fiscal year Extraordinary income ¥ bn YoY Basis
FYE Dec 2016 0.6 n/a Cons. · Japanese GAAP
FYE Dec 2017 0.1 −89.7% Cons. · Japanese GAAP
FYE Dec 2018 n/a n/a Cons. · Japanese GAAP
FYE Dec 2019 n/a n/a Cons. · Japanese GAAP
FYE Dec 2020 n/a n/a Cons. · Japanese GAAP
FYE Dec 2021 7.9 n/a Cons. · Japanese GAAP
FYE Dec 2022 11.6 +47.2% Cons. · Japanese GAAP
FYE Dec 2023 n/a n/a Cons. · Japanese GAAP
FYE Dec 2024 2.7 n/a Cons. · Japanese GAAP
FYE Dec 2025 n/a n/a Cons. · Japanese GAAP
Definition
One-off gains, such as an asset sale
Formula
Extraordinary income line of the income statement
Source
Securities report (XBRL)

Extraordinary loss

FYE Dec 2025 ¥1.6bn
CAGR · 3 yrs +550.2%
Fiscal year Extraordinary loss ¥ bn YoY Basis
FYE Dec 2016 n/a n/a Cons. · Japanese GAAP
FYE Dec 2017 n/a n/a Cons. · Japanese GAAP
FYE Dec 2018 n/a n/a Cons. · Japanese GAAP
FYE Dec 2019 n/a n/a Cons. · Japanese GAAP
FYE Dec 2020 n/a n/a Cons. · Japanese GAAP
FYE Dec 2021 0.0 n/a Cons. · Japanese GAAP
FYE Dec 2022 3.9 +9928.2% Cons. · Japanese GAAP
FYE Dec 2023 n/a n/a Cons. · Japanese GAAP
FYE Dec 2024 n/a n/a Cons. · Japanese GAAP
FYE Dec 2025 1.6 n/a Cons. · Japanese GAAP
Definition
One-off losses, such as an impairment or a restructuring charge
Formula
Extraordinary loss line of the income statement
Source
Securities report (XBRL)

Net profit profit attributable to owners of the parent

FYE Dec 2025 ¥35bn
CAGR · 10 yrs +3.8%
Fiscal year Net profit ¥ bn YoY Basis
FYE Dec 2016 24.7 n/a Cons. · Japanese GAAP
FYE Dec 2017 25.7 +4.2% Cons. · Japanese GAAP
FYE Dec 2018 28.3 +10.2% Cons. · Japanese GAAP
FYE Dec 2019 27.9 −1.3% Cons. · Japanese GAAP
FYE Dec 2020 26.9 −3.7% Cons. · Japanese GAAP
FYE Dec 2021 38.4 +42.6% Cons. · Japanese GAAP
FYE Dec 2022 29.8 −22.2% Cons. · Japanese GAAP
FYE Dec 2023 10.7 −64.0% Cons. · Japanese GAAP
FYE Dec 2024 34.4 +220.2% Cons. · Japanese GAAP
FYE Dec 2025 34.5 +0.5% Cons. · Japanese GAAP
Definition
What is left after tax
Formula
Pre-tax profit − income taxes
Source
Securities report (XBRL)

Gross margin

FYE Dec 2025 76.9%
Average · 10 yrs 78.3%
Fiscal year Gross margin % YoY Basis
FYE Dec 2016 82.5 n/a Cons. · Japanese GAAP
FYE Dec 2017 81.1 −1.4pp Cons. · Japanese GAAP
FYE Dec 2018 79.6 −1.5pp Cons. · Japanese GAAP
FYE Dec 2019 80.4 +0.9pp Cons. · Japanese GAAP
FYE Dec 2020 78.1 −2.4pp Cons. · Japanese GAAP
FYE Dec 2021 77.9 −0.1pp Cons. · Japanese GAAP
FYE Dec 2022 75.7 −2.2pp Cons. · Japanese GAAP
FYE Dec 2023 74.4 −1.3pp Cons. · Japanese GAAP
FYE Dec 2024 76.2 +1.8pp Cons. · Japanese GAAP
FYE Dec 2025 76.9 +0.7pp Cons. · Japanese GAAP
Definition
The share of revenue left after the cost of sales
Formula
Gross profit ÷ revenue
Source
Securities report (XBRL)

Operating margin

FYE Dec 2025 20.9%
Average · 10 yrs 20.7%
Fiscal year Operating margin % YoY Basis
FYE Dec 2016 26.0 n/a Cons. · Japanese GAAP
FYE Dec 2017 24.5 −1.6pp Cons. · Japanese GAAP
FYE Dec 2018 22.3 −2.1pp Cons. · Japanese GAAP
FYE Dec 2019 22.8 +0.5pp Cons. · Japanese GAAP
FYE Dec 2020 22.7 −0.1pp Cons. · Japanese GAAP
FYE Dec 2021 22.9 +0.3pp Cons. · Japanese GAAP
FYE Dec 2022 14.0 −8.9pp Cons. · Japanese GAAP
FYE Dec 2023 13.1 −0.9pp Cons. · Japanese GAAP
FYE Dec 2024 17.6 +4.5pp Cons. · Japanese GAAP
FYE Dec 2025 20.9 +3.3pp Cons. · Japanese GAAP
Definition
The share of revenue the core business keeps
Formula
Operating profit ÷ revenue
Source
Securities report (XBRL)

Ordinary margin

FYE Dec 2025 19.6%
Average · 10 yrs 21.3%
Fiscal year Ordinary margin % YoY Basis
FYE Dec 2016 26.6 n/a Cons. · Japanese GAAP
FYE Dec 2017 24.9 −1.7pp Cons. · Japanese GAAP
FYE Dec 2018 23.2 −1.7pp Cons. · Japanese GAAP
FYE Dec 2019 23.7 +0.5pp Cons. · Japanese GAAP
FYE Dec 2020 22.9 −0.8pp Cons. · Japanese GAAP
FYE Dec 2021 23.4 +0.5pp Cons. · Japanese GAAP
FYE Dec 2022 15.3 −8.1pp Cons. · Japanese GAAP
FYE Dec 2023 14.5 −0.7pp Cons. · Japanese GAAP
FYE Dec 2024 19.4 +4.8pp Cons. · Japanese GAAP
FYE Dec 2025 19.6 +0.2pp Cons. · Japanese GAAP
Definition
The share of revenue left at the ordinary-profit line
Formula
Ordinary profit ÷ revenue
Source
Securities report (XBRL)

Net margin

FYE Dec 2025 12.5%
Average · 10 yrs 14.9%
Fiscal year Net margin % YoY Basis
FYE Dec 2016 18.7 n/a Cons. · Japanese GAAP
FYE Dec 2017 17.3 −1.4pp Cons. · Japanese GAAP
FYE Dec 2018 17.7 +0.4pp Cons. · Japanese GAAP
FYE Dec 2019 16.9 −0.7pp Cons. · Japanese GAAP
FYE Dec 2020 15.5 −1.5pp Cons. · Japanese GAAP
FYE Dec 2021 20.2 +4.7pp Cons. · Japanese GAAP
FYE Dec 2022 13.3 −6.8pp Cons. · Japanese GAAP
FYE Dec 2023 4.3 −9.0pp Cons. · Japanese GAAP
FYE Dec 2024 12.6 +8.3pp Cons. · Japanese GAAP
FYE Dec 2025 12.5 −0.1pp Cons. · Japanese GAAP
Definition
The share of revenue left after everything
Formula
Net profit ÷ revenue
Source
Securities report (XBRL)

Cost-of-sales ratio

FYE Dec 2025 23.1%
Average · 10 yrs 21.7%
Fiscal year Cost-of-sales ratio % YoY Basis
FYE Dec 2016 17.5 n/a Cons. · Japanese GAAP
FYE Dec 2017 18.9 +1.4pp Cons. · Japanese GAAP
FYE Dec 2018 20.4 +1.5pp Cons. · Japanese GAAP
FYE Dec 2019 19.6 −0.9pp Cons. · Japanese GAAP
FYE Dec 2020 21.9 +2.4pp Cons. · Japanese GAAP
FYE Dec 2021 22.1 +0.1pp Cons. · Japanese GAAP
FYE Dec 2022 24.3 +2.2pp Cons. · Japanese GAAP
FYE Dec 2023 25.6 +1.3pp Cons. · Japanese GAAP
FYE Dec 2024 23.8 −1.8pp Cons. · Japanese GAAP
FYE Dec 2025 23.1 −0.7pp Cons. · Japanese GAAP
Definition
The share of revenue taken by the cost of sales
Formula
Cost of sales ÷ revenue
Source
Securities report (XBRL)

SG&A ratio

FYE Dec 2025 56.0%
Average · 10 yrs 57.6%
Fiscal year SG&A ratio % YoY Basis
FYE Dec 2016 56.5 n/a Cons. · Japanese GAAP
FYE Dec 2017 56.6 +0.1pp Cons. · Japanese GAAP
FYE Dec 2018 57.3 +0.7pp Cons. · Japanese GAAP
FYE Dec 2019 57.6 +0.4pp Cons. · Japanese GAAP
FYE Dec 2020 55.4 −2.2pp Cons. · Japanese GAAP
FYE Dec 2021 55.0 −0.4pp Cons. · Japanese GAAP
FYE Dec 2022 61.7 +6.7pp Cons. · Japanese GAAP
FYE Dec 2023 61.3 −0.4pp Cons. · Japanese GAAP
FYE Dec 2024 58.5 −2.8pp Cons. · Japanese GAAP
FYE Dec 2025 56.0 −2.5pp Cons. · Japanese GAAP
Definition
The share of revenue taken by selling and administrative costs
Formula
SG&A ÷ revenue
Source
Securities report (XBRL)

Balance sheet Assets, debt and equity, and what they say about financial strength

What the balance sheet is made of

¥ bn
Equity Liabilities and non-controlling interests

Financial strength

%
Equity ratio

Total assets

FYE Dec 2025 ¥422bn
CAGR · 10 yrs +3.5%
Fiscal year Total assets ¥ bn YoY Basis
FYE Dec 2016 309 n/a Cons. · Japanese GAAP
FYE Dec 2017 331 +7.3% Cons. · Japanese GAAP
FYE Dec 2018 346 +4.5% Cons. · Japanese GAAP
FYE Dec 2019 360 +3.9% Cons. · Japanese GAAP
FYE Dec 2020 377 +4.7% Cons. · Japanese GAAP
FYE Dec 2021 420 +11.6% Cons. · Japanese GAAP
FYE Dec 2022 471 +12.0% Cons. · Japanese GAAP
FYE Dec 2023 493 +4.6% Cons. · Japanese GAAP
FYE Dec 2024 400 −18.7% Cons. · Japanese GAAP
FYE Dec 2025 422 +5.5% Cons. · Japanese GAAP
Definition
Everything the company holds
Formula
Total assets line of the balance sheet
Source
Securities report (XBRL)

Equity net assets, shareholders' equity

FYE Dec 2025 ¥128bn
CAGR · 10 yrs −2.8%
Fiscal year Equity ¥ bn YoY Basis
FYE Dec 2016 165 n/a Cons. · Japanese GAAP
FYE Dec 2017 175 +6.5% Cons. · Japanese GAAP
FYE Dec 2018 186 +6.0% Cons. · Japanese GAAP
FYE Dec 2019 186 +0.2% Cons. · Japanese GAAP
FYE Dec 2020 187 +0.6% Cons. · Japanese GAAP
FYE Dec 2021 219 +17.0% Cons. · Japanese GAAP
FYE Dec 2022 227 +3.6% Cons. · Japanese GAAP
FYE Dec 2023 212 −6.6% Cons. · Japanese GAAP
FYE Dec 2024 117 −44.9% Cons. · Japanese GAAP
FYE Dec 2025 128 +9.1% Cons. · Japanese GAAP
Definition
The part of the funding that never has to be repaid
Formula
Net assets line of the balance sheet
Source
Securities report (XBRL)

Intangible assets

FYE Dec 2025 ¥28bn
CAGR · 10 yrs −4.5%
Fiscal year Intangible assets ¥ bn YoY Basis
FYE Dec 2016 42.5 n/a Cons. · Japanese GAAP
FYE Dec 2017 40.3 −5.3% Cons. · Japanese GAAP
FYE Dec 2018 35.1 −12.9% Cons. · Japanese GAAP
FYE Dec 2019 36.2 +3.0% Cons. · Japanese GAAP
FYE Dec 2020 25.9 −28.4% Cons. · Japanese GAAP
FYE Dec 2021 25.4 −1.8% Cons. · Japanese GAAP
FYE Dec 2022 24.3 −4.5% Cons. · Japanese GAAP
FYE Dec 2023 31.9 +31.2% Cons. · Japanese GAAP
FYE Dec 2024 31.4 −1.5% Cons. · Japanese GAAP
FYE Dec 2025 28.0 −10.7% Cons. · Japanese GAAP
Definition
Assets with no physical form
Formula
Intangible assets line of the balance sheet
Source
Securities report (XBRL)

Goodwill

FYE Dec 2025 ¥1.6bn
CAGR · 10 yrs −24.0%
Fiscal year Goodwill ¥ bn YoY Basis
FYE Dec 2016 18.4 n/a Cons. · Japanese GAAP
FYE Dec 2017 15.0 −18.4% Cons. · Japanese GAAP
FYE Dec 2018 10.1 −32.9% Cons. · Japanese GAAP
FYE Dec 2019 10.1 +0.4% Cons. · Japanese GAAP
FYE Dec 2020 4.8 −52.7% Cons. · Japanese GAAP
FYE Dec 2021 2.8 −41.0% Cons. · Japanese GAAP
FYE Dec 2022 1.1 −61.2% Cons. · Japanese GAAP
FYE Dec 2023 3.7 +234.7% Cons. · Japanese GAAP
FYE Dec 2024 2.3 −38.1% Cons. · Japanese GAAP
FYE Dec 2025 1.6 −31.6% Cons. · Japanese GAAP
Definition
What an acquisition cost above the net assets it brought
Formula
Goodwill line of the balance sheet
Source
Securities report (XBRL)

Equity ratio

FYE Dec 2025 30.2%
Average · 10 yrs 46.4%
Fiscal year Equity ratio % YoY Basis
FYE Dec 2016 53.4 n/a Cons. · Japanese GAAP
FYE Dec 2017 53.0 −0.4pp Cons. · Japanese GAAP
FYE Dec 2018 53.7 +0.7pp Cons. · Japanese GAAP
FYE Dec 2019 51.8 −1.9pp Cons. · Japanese GAAP
FYE Dec 2020 49.7 −2.1pp Cons. · Japanese GAAP
FYE Dec 2021 52.1 +2.4pp Cons. · Japanese GAAP
FYE Dec 2022 48.2 −3.9pp Cons. · Japanese GAAP
FYE Dec 2023 43.0 −5.2pp Cons. · Japanese GAAP
FYE Dec 2024 29.2 −13.8pp Cons. · Japanese GAAP
FYE Dec 2025 30.2 +1.0pp Cons. · Japanese GAAP
Definition
How much of the balance sheet is funded without debt
Formula
Equity ÷ total assets
Source
Securities report (XBRL)

ROE return on equity

FYE Dec 2025 27.1%
Average · 10 yrs 16.6%
Fiscal year ROE % YoY Basis
FYE Dec 2016 15.0 n/a Cons. · Japanese GAAP
FYE Dec 2017 14.6 −0.3pp Cons. · Japanese GAAP
FYE Dec 2018 15.2 +0.6pp Cons. · Japanese GAAP
FYE Dec 2019 15.0 −0.2pp Cons. · Japanese GAAP
FYE Dec 2020 14.4 −0.6pp Cons. · Japanese GAAP
FYE Dec 2021 17.5 +3.1pp Cons. · Japanese GAAP
FYE Dec 2022 13.2 −4.4pp Cons. · Japanese GAAP
FYE Dec 2023 5.1 −8.1pp Cons. · Japanese GAAP
FYE Dec 2024 29.4 +24.3pp Cons. · Japanese GAAP
FYE Dec 2025 27.1 −2.3pp Cons. · Japanese GAAP
Definition
What the shareholders' capital earns
Formula
Net profit ÷ equity
Source
Securities report (XBRL)

ROA return on assets

FYE Dec 2025 8.2%
Average · 10 yrs 7.3%
Fiscal year ROA % YoY Basis
FYE Dec 2016 8.0 n/a Cons. · Japanese GAAP
FYE Dec 2017 7.8 −0.2pp Cons. · Japanese GAAP
FYE Dec 2018 8.2 +0.4pp Cons. · Japanese GAAP
FYE Dec 2019 7.8 −0.4pp Cons. · Japanese GAAP
FYE Dec 2020 7.1 −0.6pp Cons. · Japanese GAAP
FYE Dec 2021 9.1 +2.0pp Cons. · Japanese GAAP
FYE Dec 2022 6.3 −2.8pp Cons. · Japanese GAAP
FYE Dec 2023 2.2 −4.2pp Cons. · Japanese GAAP
FYE Dec 2024 8.6 +6.4pp Cons. · Japanese GAAP
FYE Dec 2025 8.2 −0.4pp Cons. · Japanese GAAP
Definition
What the whole balance sheet earns
Formula
Net profit ÷ total assets
Source
Securities report (XBRL)

Asset turnover

FYE Dec 2025 0.65×
CAGR · 10 yrs +4.8%
Fiscal year Asset turnover × YoY Basis
FYE Dec 2016 0.43 n/a Cons. · Japanese GAAP
FYE Dec 2017 0.45 +5.1% Cons. · Japanese GAAP
FYE Dec 2018 0.46 +3.1% Cons. · Japanese GAAP
FYE Dec 2019 0.46 −0.9% Cons. · Japanese GAAP
FYE Dec 2020 0.46 +0.6% Cons. · Japanese GAAP
FYE Dec 2021 0.45 −2.0% Cons. · Japanese GAAP
FYE Dec 2022 0.48 +5.0% Cons. · Japanese GAAP
FYE Dec 2023 0.50 +6.2% Cons. · Japanese GAAP
FYE Dec 2024 0.68 +34.9% Cons. · Japanese GAAP
FYE Dec 2025 0.65 −4.0% Cons. · Japanese GAAP
Definition
How much revenue each yen of assets produces
Formula
Revenue ÷ total assets
Source
Securities report (XBRL)

Cash flow statement Cash from operations, investment and financing, and what is left on hand

The three cash flows

¥ bn
Operating CF Investing CF Financing CF

Cash against debt

¥ bn
Cash and equivalents

Operating cash flow

FYE Dec 2025 ¥65bn
CAGR · 10 yrs +7.6%
Fiscal year Operating cash flow ¥ bn YoY Basis
FYE Dec 2016 33.5 n/a Cons. · Japanese GAAP
FYE Dec 2017 46.9 +40.0% Cons. · Japanese GAAP
FYE Dec 2018 50.0 +6.5% Cons. · Japanese GAAP
FYE Dec 2019 45.1 −9.7% Cons. · Japanese GAAP
FYE Dec 2020 54.3 +20.4% Cons. · Japanese GAAP
FYE Dec 2021 55.3 +1.8% Cons. · Japanese GAAP
FYE Dec 2022 56.9 +3.0% Cons. · Japanese GAAP
FYE Dec 2023 57.2 +0.6% Cons. · Japanese GAAP
FYE Dec 2024 46.8 −18.3% Cons. · Japanese GAAP
FYE Dec 2025 64.6 +38.2% Cons. · Japanese GAAP
Definition
Cash the business itself generated
Formula
Cash flow from operating activities
Source
Securities report (XBRL)

Investing cash flow

FYE Dec 2025 ¥0.8bn
CAGR · 10 yrs −27.0%
Fiscal year Investing cash flow ¥ bn YoY Basis
FYE Dec 2016 12.9 n/a Cons. · Japanese GAAP
FYE Dec 2017 -33.8 −361.6% Cons. · Japanese GAAP
FYE Dec 2018 0.8 n/a Cons. · Japanese GAAP
FYE Dec 2019 -1.5 −279.3% Cons. · Japanese GAAP
FYE Dec 2020 -5.8 n/a Cons. · Japanese GAAP
FYE Dec 2021 2.6 n/a Cons. · Japanese GAAP
FYE Dec 2022 -67.7 −2729.7% Cons. · Japanese GAAP
FYE Dec 2023 31.0 n/a Cons. · Japanese GAAP
FYE Dec 2024 5.0 −83.7% Cons. · Japanese GAAP
FYE Dec 2025 0.8 −85.0% Cons. · Japanese GAAP
Definition
Cash spent on, or released by, investment
Formula
Cash flow from investing activities
Source
Securities report (XBRL)

Financing cash flow

FYE Dec 2025 -¥27bn
Average · 10 yrs -¥34bn
Fiscal year Financing cash flow ¥ bn YoY Basis
FYE Dec 2016 -15.1 n/a Cons. · Japanese GAAP
FYE Dec 2017 -16.9 n/a Cons. · Japanese GAAP
FYE Dec 2018 -13.2 n/a Cons. · Japanese GAAP
FYE Dec 2019 -26.0 n/a Cons. · Japanese GAAP
FYE Dec 2020 -21.1 n/a Cons. · Japanese GAAP
FYE Dec 2021 -16.4 n/a Cons. · Japanese GAAP
FYE Dec 2022 -30.4 n/a Cons. · Japanese GAAP
FYE Dec 2023 -43.4 n/a Cons. · Japanese GAAP
FYE Dec 2024 -131 n/a Cons. · Japanese GAAP
FYE Dec 2025 -27.5 n/a Cons. · Japanese GAAP
Definition
Cash raised from, or returned to, lenders and shareholders
Formula
Cash flow from financing activities
Source
Securities report (XBRL)

Cash and equivalents

FYE Dec 2025 ¥230bn
CAGR · 10 yrs +9.4%
Fiscal year Cash and equivalents ¥ bn YoY Basis
FYE Dec 2016 102 n/a Cons. · Japanese GAAP
FYE Dec 2017 98.4 −3.8% Cons. · Japanese GAAP
FYE Dec 2018 132 +33.7% Cons. · Japanese GAAP
FYE Dec 2019 148 +12.5% Cons. · Japanese GAAP
FYE Dec 2020 174 +17.6% Cons. · Japanese GAAP
FYE Dec 2021 226 +29.6% Cons. · Japanese GAAP
FYE Dec 2022 208 −8.0% Cons. · Japanese GAAP
FYE Dec 2023 261 +25.8% Cons. · Japanese GAAP
FYE Dec 2024 187 −28.3% Cons. · Japanese GAAP
FYE Dec 2025 230 +23.0% Cons. · Japanese GAAP
Definition
Cash on hand at the year end
Formula
Closing balance in the cash flow statement
Source
Securities report (XBRL)

Free cash flow

FYE Dec 2025 ¥65bn
CAGR · 10 yrs +3.9%
Fiscal year FCF ¥ bn YoY Basis
FYE Dec 2016 46.4 n/a Cons. · Japanese GAAP
FYE Dec 2017 13.1 −71.8% Cons. · Japanese GAAP
FYE Dec 2018 50.8 +287.7% Cons. · Japanese GAAP
FYE Dec 2019 43.6 −14.1% Cons. · Japanese GAAP
FYE Dec 2020 48.5 +11.2% Cons. · Japanese GAAP
FYE Dec 2021 57.8 +19.2% Cons. · Japanese GAAP
FYE Dec 2022 -10.8 −118.7% Cons. · Japanese GAAP
FYE Dec 2023 88.2 n/a Cons. · Japanese GAAP
FYE Dec 2024 51.8 −41.3% Cons. · Japanese GAAP
FYE Dec 2025 65.4 +26.2% Cons. · Japanese GAAP
Definition
What is left once the business has paid for its own investment
Formula
Operating cash flow + investing cash flow
Source
Securities report (XBRL)

Operating cash flow margin

FYE Dec 2025 23.4%
Average · 10 yrs 26.5%
Fiscal year OCF margin % YoY Basis
FYE Dec 2016 25.4 n/a Cons. · Japanese GAAP
FYE Dec 2017 31.5 +6.1pp Cons. · Japanese GAAP
FYE Dec 2018 31.1 −0.4pp Cons. · Japanese GAAP
FYE Dec 2019 27.3 −3.8pp Cons. · Japanese GAAP
FYE Dec 2020 31.2 +3.9pp Cons. · Japanese GAAP
FYE Dec 2021 29.0 −2.2pp Cons. · Japanese GAAP
FYE Dec 2022 25.4 −3.6pp Cons. · Japanese GAAP
FYE Dec 2023 23.0 −2.4pp Cons. · Japanese GAAP
FYE Dec 2024 17.2 −5.9pp Cons. · Japanese GAAP
FYE Dec 2025 23.4 +6.3pp Cons. · Japanese GAAP
Definition
How much of the revenue turned into cash
Formula
Operating cash flow ÷ revenue
Source
Securities report (XBRL)

Shares and share price Shares outstanding, price, market capitalisation and the valuation multiples

Market capitalisation

FYE Dec 2025 ¥916bn
Change · 10 yrs +¥333bn
Fiscal year Market capitalisation ¥ bn Basis
FYE Dec 2016 583 n/a
FYE Dec 2017 896 n/a
FYE Dec 2018 838 n/a
FYE Dec 2019 787 n/a
FYE Dec 2020 835 n/a
FYE Dec 2021 899 n/a
FYE Dec 2022 865 n/a
FYE Dec 2023 1,063 n/a
FYE Dec 2024 1,207 n/a
FYE Dec 2025 916 n/a
Definition
What the market says the company is worth
Formula
Year-end share price × shares outstanding
Source
Securities report (XBRL)

Share price year-end close

FYE Dec 2025 6,503¥
Change · 10 yrs +2,348¥
Fiscal year Share price ¥ Basis
FYE Dec 2016 4,155 n/a
FYE Dec 2017 6,390 n/a
FYE Dec 2018 5,970 n/a
FYE Dec 2019 5,600 n/a
FYE Dec 2020 5,941 n/a
FYE Dec 2021 6,390 n/a
FYE Dec 2022 6,141 n/a
FYE Dec 2023 7,548 n/a
FYE Dec 2024 8,567 n/a
FYE Dec 2025 6,503 n/a
Definition
The closing price on the last day of the fiscal year
Formula
Year-end closing price
Source
Securities report (XBRL)

Shares outstanding

FYE Dec 2025 140,901,604shares
Change · 10 yrs +608,600 shares
Fiscal year Shares outstanding shares Basis
FYE Dec 2016 140,293,004 Parent
FYE Dec 2017 140,293,004 Parent
FYE Dec 2018 140,368,504 Parent
FYE Dec 2019 140,513,004 Parent
FYE Dec 2020 140,629,204 Parent
FYE Dec 2021 140,744,104 Parent
FYE Dec 2022 140,804,104 Parent
FYE Dec 2023 140,879,104 Parent
FYE Dec 2024 140,901,604 Parent
FYE Dec 2025 140,901,604 Parent
Definition
How many shares exist
Formula
Shares issued, from the key figures of the filing
Source
Securities report (XBRL)

EPS earnings per share

FYE Dec 2025 262.42¥
Change · 10 yrs +82.79¥
Fiscal year EPS ¥ Basis
FYE Dec 2016 179.63 Cons.
FYE Dec 2017 187.01 Cons.
FYE Dec 2018 204.38 Cons.
FYE Dec 2019 200.94 Cons.
FYE Dec 2020 193.39 Cons.
FYE Dec 2021 275.20 Cons.
FYE Dec 2022 213.59 Cons.
FYE Dec 2023 78.45 Cons.
FYE Dec 2024 259.05 Cons.
FYE Dec 2025 262.42 Cons.
Definition
Net profit for each share
Formula
Net profit ÷ average shares outstanding
Source
Securities report (XBRL)

BPS book value per share

FYE Dec 2025 905.02¥
Change · 10 yrs −269.37¥
Fiscal year BPS ¥ Basis
FYE Dec 2016 1,174.39 Cons. · Japanese GAAP
FYE Dec 2017 1,250.30 Cons. · Japanese GAAP
FYE Dec 2018 1,324.29 Cons. · Japanese GAAP
FYE Dec 2019 1,324.93 Cons. · Japanese GAAP
FYE Dec 2020 1,331.30 Cons. · Japanese GAAP
FYE Dec 2021 1,556.61 Cons. · Japanese GAAP
FYE Dec 2022 1,611.64 Cons. · Japanese GAAP
FYE Dec 2023 1,504.82 Cons. · Japanese GAAP
FYE Dec 2024 829.60 Cons. · Japanese GAAP
FYE Dec 2025 905.02 Cons. · Japanese GAAP
Definition
Equity behind each share
Formula
Equity ÷ shares outstanding
Source
Securities report (XBRL)

PER price-to-earnings ratio

FYE Dec 2025 24.78×
Average · 10 yrs 35.11×
Fiscal year PER × Basis
FYE Dec 2016 23.13 Cons.
FYE Dec 2017 34.17 Cons.
FYE Dec 2018 29.21 Cons.
FYE Dec 2019 27.87 Cons.
FYE Dec 2020 30.72 Cons.
FYE Dec 2021 23.22 Cons.
FYE Dec 2022 28.75 Cons.
FYE Dec 2023 96.21 Cons.
FYE Dec 2024 33.07 Cons.
FYE Dec 2025 24.78 Cons.
Definition
How many years of earnings the price stands for
Formula
Year-end price ÷ EPS
Source
Securities report (XBRL)

PBR price-to-book ratio

FYE Dec 2025 6.66×
Average · 10 yrs 5.05×
Fiscal year PBR × Basis
FYE Dec 2016 3.46 Cons.
FYE Dec 2017 5.01 Cons.
FYE Dec 2018 4.48 Cons.
FYE Dec 2019 4.19 Cons.
FYE Dec 2020 4.41 Cons.
FYE Dec 2021 4.07 Cons.
FYE Dec 2022 3.77 Cons.
FYE Dec 2023 4.83 Cons.
FYE Dec 2024 9.62 Cons.
FYE Dec 2025 6.66 Cons.
Definition
The price measured against the book value behind it
Formula
Year-end price ÷ BPS
Source
Securities report (XBRL)

Workforce and productivity Headcount, pay and what each employee accounts for

Group employees

FYE Dec 2025 6,717people
Change · 10 yrs +1,090 people
Fiscal year Group employees people YoY Basis
FYE Dec 2016 5,627 n/a Cons.
FYE Dec 2017 5,970 +6.1% Cons.
FYE Dec 2018 6,562 +9.9% Cons.
FYE Dec 2019 6,854 +4.4% Cons.
FYE Dec 2020 6,975 +1.8% Cons.
FYE Dec 2021 7,024 +0.7% Cons.
FYE Dec 2022 7,669 +9.2% Cons.
FYE Dec 2023 7,432 −3.1% Cons.
FYE Dec 2024 6,869 −7.6% Cons.
FYE Dec 2025 6,717 −2.2% Cons.
Definition
Everyone employed across the group
Formula
Consolidated headcount, from the employee section of the filing
Source
Securities report (XBRL)

Parent-company employees

FYE Dec 2025 725people
Change · 10 yrs +22 people
Fiscal year Parent-company employees people YoY Basis
FYE Dec 2016 703 n/a Parent
FYE Dec 2017 726 +3.3% Parent
FYE Dec 2018 744 +2.5% Parent
FYE Dec 2019 747 +0.4% Parent
FYE Dec 2020 787 +5.4% Parent
FYE Dec 2021 792 +0.6% Parent
FYE Dec 2022 821 +3.7% Parent
FYE Dec 2023 868 +5.7% Parent
FYE Dec 2024 793 −8.6% Parent
FYE Dec 2025 725 −8.6% Parent
Definition
Employees of the filing company itself
Formula
Parent-only headcount, from the employee section of the filing
Source
Securities report (XBRL)

Average annual pay parent company

FYE Dec 2025 989万円
Change · 10 yrs +52万円
Fiscal year Average annual pay 万円 YoY Basis
FYE Dec 2016 937 n/a Parent
FYE Dec 2017 915 −2.4% Parent
FYE Dec 2018 882 −3.6% Parent
FYE Dec 2019 871 −1.3% Parent
FYE Dec 2020 922 +5.8% Parent
FYE Dec 2021 942 +2.2% Parent
FYE Dec 2022 885 −6.0% Parent
FYE Dec 2023 883 −0.2% Parent
FYE Dec 2024 900 +1.9% Parent
FYE Dec 2025 989 +9.9% Parent
Definition
Average total annual compensation, bonuses included
Formula
Average annual pay, from the employee section of the filing
Source
Securities report (XBRL)

Average age

FYE Dec 2025 40.3years
Change · 7 yrs +0.8 years
Fiscal year Average age years YoY Basis
FYE Dec 2016 n/a n/a Parent
FYE Dec 2017 n/a n/a Parent
FYE Dec 2018 n/a n/a Parent
FYE Dec 2019 39.5 n/a Parent
FYE Dec 2020 39.5 −0.1% Parent
FYE Dec 2021 40.0 +1.3% Parent
FYE Dec 2022 40.4 +1.0% Parent
FYE Dec 2023 40.4 −0.0% Parent
FYE Dec 2024 40.3 −0.2% Parent
FYE Dec 2025 40.3 −0.0% Parent
Definition
Average age of the parent company's employees
Formula
Average age, from the employee section of the filing
Source
Securities report (XBRL)

Average length of service

FYE Dec 2025 9.1years
Change · 10 yrs +1.7 years
Fiscal year Average length of service years YoY Basis
FYE Dec 2016 7.4 n/a Parent
FYE Dec 2017 7.4 −0.0% Parent
FYE Dec 2018 7.8 +5.4% Parent
FYE Dec 2019 7.8 −0.0% Parent
FYE Dec 2020 8.6 +10.3% Parent
FYE Dec 2021 9.1 +5.8% Parent
FYE Dec 2022 8.2 −9.9% Parent
FYE Dec 2023 8.3 +1.2% Parent
FYE Dec 2024 9.4 +13.3% Parent
FYE Dec 2025 9.1 −3.2% Parent
Definition
How long the average employee has been with the company
Formula
Average years of service, from the employee section of the filing
Source
Securities report (XBRL)

Revenue per employee

FYE Dec 2025 ¥41.1m
Change · 10 yrs +¥17.6m
Fiscal year Revenue per employee ¥ m YoY Basis
FYE Dec 2016 23.4 n/a Cons.
FYE Dec 2017 24.9 +6.3% Cons.
FYE Dec 2018 24.4 −1.9% Cons.
FYE Dec 2019 24.1 −1.4% Cons.
FYE Dec 2020 25.0 +3.5% Cons.
FYE Dec 2021 27.1 +8.6% Cons.
FYE Dec 2022 29.2 +7.7% Cons.
FYE Dec 2023 33.5 +14.7% Cons.
FYE Dec 2024 39.7 +18.6% Cons.
FYE Dec 2025 41.1 +3.5% Cons.
Definition
What each employee accounts for in revenue
Formula
Revenue ÷ group employees
Source
Securities report (XBRL)

Operating profit per employee

FYE Dec 2025 ¥8.6m
Change · 10 yrs +¥2.5m
Fiscal year OP per employee ¥ m YoY Basis
FYE Dec 2016 6.1 n/a Cons.
FYE Dec 2017 6.1 −0.0% Cons.
FYE Dec 2018 5.5 −10.5% Cons.
FYE Dec 2019 5.5 +0.7% Cons.
FYE Dec 2020 5.7 +2.9% Cons.
FYE Dec 2021 6.2 +9.8% Cons.
FYE Dec 2022 4.1 −34.2% Cons.
FYE Dec 2023 4.4 +7.3% Cons.
FYE Dec 2024 7.0 +59.6% Cons.
FYE Dec 2025 8.6 +22.8% Cons.
Definition
What each employee accounts for in operating profit
Formula
Operating profit ÷ group employees
Source
Securities report (XBRL)

Disclaimer

Accuracy, liability, reuse and privacy — the full disclaimer →

Data API

Trend Micro’s history, presidents and financials are published as static JSON — no key, plain GET. One API per public page, and one per section where a page carries several tables. Full specification →

/api/4704/company.json ·/api/4704/history.json ·/api/4704/ceo.json ·/api/4704/financials.json ·/api/4704/financials/segment.json ·/api/4704/financials/pl.json ·/api/4704/financials/cf.json ·/api/4704/financials/bs.json ·/api/4704/financials/employee.json ·/api/4704/financials/stock.json ·/api/4704/financials.csv ·/api/4704/financials_history.csv

/api/companies.json ·/api/decisions.json ·/api/api-manifest.json